Acquisition of Limoni and La Gardenia completed - Douglas becomes a leading player in the Italian beauty sector
Acquisition of Limoni and La Gardenia completed – Douglas becomes a leading player in the Italian beauty sector
Douglas, a leading retailer in the European beauty sector, has now become a leading player in Italy as well. The company's local subsidiary Profumerie Douglas S.p.A. announced today that it has completed the acquisition of the two leading Italian beauty and perfumery chains Limoni and La Gardenia, which are together trading as Leading Luxury Group ("LLG"), from its previous owner Orlando Italy Management SA. The operation is under examination by the Italian Competition Authority.
"By integrating Limoni and La Gardenia in Douglas' pan-European store network, we are creating a new key player in the Italian beauty sector", said Tina Müller, CEO of Douglas. "Together with our new colleagues, we will strive to offer best-in-class service for our customers and become the No. 1 omnichannel retailer for beauty and cosmetics in Italy – a position Douglas already holds in many other European countries."
Upon the closing of the transaction, it was announced that Fabio Pampani, currently CEO of LLG, would become Douglas Italy's new CEO. "I am excited to lead this new company that will combine talents from all three companies – from top management level to our store employees. Utilising Douglas' outstanding omnichannel expertise, we will not only improve customer experience in our stores, but also take our joint online shops to the next level."
In addition to the transaction in Italy, Douglas recently completed the acquisition of the Spanish perfumery chain Bodybell and announced to takeover a portfolio of Perfumerías If stores in Spain. After closing all three transactions, Douglas would operate about 2,400 perfumeries in 19 European countries, combined with a network of fast growing online shops. By strategically strengthening its businesses in Italy and Spain, Douglas is taking major steps in the company's strategy to become the No. 1 or strong No. 2 in every market it serves.